Anyone know what this is about?
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Please don’t act like Moran is new - he was the Bank CFO for the entire ride so he’s fully aware for some time. Sure he’s new in this role, but he’s been sitting at that leadership table and fully aware of the financial situation, in much more detail, and longer, than anyone.
@2fws+1veOl0T7 I agree with you. He’s been a great leader with the cr-ppy hand he was dealt. He came into layoffs and then a huge org change and I feel like he’s been as transparent as possible.
I watched the town hall while hammering out some bullsh-t. Where did he mention/hint at lay offs? I want to watch it again and skip through the useless stuff so I can pick apart that phrasing.
I think Michael has been a great leader for the bank and has been way more open than past leadership. I don’t think any company in this market can promise never to have to lay people off - if they do they are likely lying. Your post tells me you actually don’t understand the business or regulatory challenges.
Did Morön stumble through his hand picked questions like he did in the big townhall? If you are short $1B in profit, yes, layoff people because you can generate revenue. Real smart, Mikey. He hates not being called Michael.
Lindsay is out. Head of bank BRCA is assuming an additional role to compensate for Lindsay’s departure. Bank ops will report to Danyel Peterson. Few AVPs are no longer going to be reporting directly to Bank President. Moran said Ilya Marcovich was the architect of this re-org and made a special shoutout. And answered insignificant, hand picked questions at the end.
The messaging has been hilarious.
This person is “retiring” and this one is “perusing an opportunity outside the company.” And SOMEHOW each one has happened in conjunction with a huge organizational shift.
We see through it.
What changes are being made?
Michael hinted more layoffs coming
Why is an interim bank president allowed to make such significant changes? There are so many changes he could not find a way to summarize in an email.
Assuming it’s Lindsay - fired or got a better job?
Someone please update the rest of us???
New bank president (or acting is about to become permanent), which could easily be an email instead of inducing panic across the bank. I really think they get off on freaking people out, sometimes.
I just got the outlook myself. Anytime I see a bank wide, whatever it makes me nervous.
My leader told me they were told to say 'it's not bad news'
There would not be a bank wide meeting to announce Lindsay is leaving. This must be much larger and more wide-ranging than that.
I'm going to guess that either they found a new bank president or they are going to give the job to the incumbent since nobody else wants it.
I was thinking Lindsay is out too but I thought maybe they’d just send an email for that.
Lindsay is out
Probably more fines